- PayPal Holdings Inc (NASDAQ: PYPL) is reportedly looking to buy Pinterest Inc (NYSE: PINS) in a $45 billion deal. These are the details.
PayPal Holdings Inc (NASDAQ: PYPL) is reportedly looking to buy Pinterest Inc (NYSE: PINS) in a $45 billion deal. This could be the biggest technology deal this year and it shift PayPal more towards what is known as a “Super App.”
According to Bloomberg’s sources, PayPal had recently approached Pinterest about a potential deal. And the discussions were based on about $70 per share. Pinterest’s stock price increased from a previous close of $55.58 to $62.68 yesterday after rumors about the deal surfaced.
If PayPal were to buy Pinterest, it would be the financial technology company’s biggest acquisition. PayPal also acquired the price comparison app called Honey for $4 billion last year. PayPal CEO Dan Schulman has been looking for ways to make PayPal a one-stop shop for shopping and finance in a way that is similar to Alipay or WeChat in China.
PayPal is also planning to add a number of additional financial services to its app such as check-cashing services, a high-yield savings account, and stock investing.
The terms of the deal are also subject to change. And there is no certainty that the talks will lead to an agreement.